Garrett Motion (NASDAQ:GTX) Upgraded by Zacks Research to “Strong-Buy” Rating

Zacks Research upgraded shares of Garrett Motion (NASDAQ:GTX) from a hold rating to a strong-buy rating in a research report report published on Tuesday morning,Zacks reports.

Other equities analysts also recently issued reports about the stock. JPMorgan Chase & Co. increased their target price on shares of Garrett Motion from $33.00 to $37.00 and gave the stock an “overweight” rating in a research report on Monday, August 10th. Wall Street Zen lowered Garrett Motion from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 18th. Royal Bank Of Canada set a $42.00 price target on shares of Garrett Motion in a research report on Thursday, May 21st. BWS Financial reiterated a “buy” rating and issued a $42.00 target price on shares of Garrett Motion in a research note on Thursday, July 30th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Garrett Motion in a research report on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, Garrett Motion presently has a consensus rating of “Buy” and a consensus price target of $38.60.

Garrett Motion Stock Performance

Shares of NASDAQ GTX opened at $27.49 on Tuesday. The stock has a market cap of $5.13 billion, a price-to-earnings ratio of 15.10, a PEG ratio of 0.72 and a beta of 0.79. The business has a 50 day simple moving average of $29.65 and a 200 day simple moving average of $26.72. Garrett Motion has a 52 week low of $12.26 and a 52 week high of $36.25.

Garrett Motion (NASDAQ:GTX) last issued its quarterly earnings data on Thursday, July 30th. The company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.07. The firm had revenue of $976.00 million for the quarter. Garrett Motion had a net margin of 9.51% and a negative return on equity of 46.50%. Garrett Motion’s revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.42 EPS. On average, analysts predict that Garrett Motion will post 1.91 EPS for the current year.

Garrett Motion Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.32 dividend on an annualized basis and a yield of 1.2%. Garrett Motion’s dividend payout ratio is currently 17.58%.

Insiders Place Their Bets

In other Garrett Motion news, SVP Daniel Deiro sold 20,000 shares of the company’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $26.89, for a total transaction of $537,800.00. Following the transaction, the senior vice president directly owned 113,783 shares in the company, valued at approximately $3,059,624.87. This represents a 14.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Mark Rodrigues sold 6,140 shares of the firm’s stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $33.30, for a total value of $204,462.00. Following the completion of the transaction, the senior vice president owned 77,038 shares in the company, valued at $2,565,365.40. This represents a 7.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 66,656 shares of company stock valued at $1,898,913. 1.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Garrett Motion

Institutional investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in Garrett Motion in the 2nd quarter valued at $461,794,000. Fuller & Thaler Asset Management Inc. bought a new position in shares of Garrett Motion in the 4th quarter valued at about $180,383,000. California State Teachers Retirement System increased its position in shares of Garrett Motion by 3,445.7% in the second quarter. California State Teachers Retirement System now owns 7,182,018 shares of the company’s stock valued at $260,205,000 after acquiring an additional 6,979,463 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Garrett Motion by 170.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,139,439 shares of the company’s stock worth $89,580,000 after acquiring an additional 3,241,952 shares in the last quarter. Finally, William Blair Investment Management LLC bought a new stake in Garrett Motion during the second quarter worth about $117,127,000. Institutional investors own 86.27% of the company’s stock.

Garrett Motion Company Profile

Garrett Motion Inc is a technology leader specializing in the design, development and manufacture of turbocharging systems and related technologies for the global automotive industry. Its product portfolio includes conventional exhaust gas turbochargers, variable-geometry turbochargers, electric and e-boost turbochargers, as well as electronic actuators, sensors and thermal management systems. The company’s solutions are engineered to improve engine efficiency, reduce emissions and support automakers’ efforts to meet evolving regulatory standards for fuel economy and air quality.

Garrett Motion traces its roots to the founding of AiResearch by Cliff Garrett in 1936, a pioneer in aircraft and automotive turbocharging technologies.